Los Angeles firm Latham & Watkins is bulking up its insolvency practice in New York and hiring a lawyer from Simpson Thacher & Bartlett.
`Shari Siegel is joining the firm as of counsel, having held the same post at Simpson Thacher, and will focus on restructuring troubled companies. She specialises in troubled loans, multinational insolvencies, asset purchases, Chapter 11 (bankruptcy), mergers and acquisitions and dispositions.`She has been involved in a host of high-profile cases including acting for the debtors in the Pan Am Corporation, Spectrum Information Technology and Pegasus Gold Corporation cases, and representing the official creditors committee in the Crystal Brands case.`New York managing partner David Gordon said that the firm had to expand its team because there is an increasing amount of insolvency work around. "We've seen an increased demand for expertise in troubled company workouts, and increased opportunities for dealmaking in the bankruptcy courts," he said.`The office currently has three partners doing insolvency work, but has also seen an increase in work on both the debtor and creditor side. Head of the practice Bob Rosenberg is regarded as one of the top insolvency lawyers in the US, having acted on the massive reorganisation of Continental Airlines in the 1980s.